634 
TH K; RURAL NEW-YORKER 
June 20, 
PUBLISHER’S DESK 
In Publisher’s Desk of May 22 you say 
no securities of publishing business seeking 
country purchasers are desirable invest¬ 
ments. My family hold Orange Judd se¬ 
curities. They are Good Housekeeping 
stock, common and preferred, and building 
certificates. The Good Housekeeping pays 
live per cent. The building certificates pay 
five per cent on large amounts, and 10 per 
cent on $15, which are put out only to sub¬ 
scribers, and one to each subscriber. They 
are now trying to sell me the Cushman se¬ 
curities. I would like your opinion of 
these investments in your paper. 
Massachusetts. header. 
If you bought Good Housekeeping 
Co. or Orange Judd Co. building 
certificates thinking that you got any 
lien on or interest in any building ypu 
were simply “misinformed” by your¬ 
self or some one else. Neither of these 
companies owns a building or real es¬ 
tate of any kind. The so-called build¬ 
ing certificates issued by these com¬ 
panies bear about the same relation to 
any building, that your credit with 
your grocer bears to your neighbor’s 
barn. They are in effect simply ,a 
receipt for your money, with a promise 
to pay it back in 20 years. You are al¬ 
lowed 10 per cent interest which is pay¬ 
able only in subscriptions, at 50 per cent 
more than others pay for the same pa¬ 
per in cash. The so-called Orange 
Judd building certificate, then, has no 
claim on any building, and is simply a 
scheme by which you loan the com¬ 
pany $15, in exchange for which you 
get a subscription to a dollar-a-year 
paper. If you withdraw your money 
in less than 20 years, you cannot get 
it all back, but must allow $2 of it to 
be applied on subscriptions, so that 
the whole remittance could not be re¬ 
covered inside of 20 years. The se¬ 
curity for the money is only the net 
assets of the company, which the offi¬ 
cers refuse to give in a definite tabu¬ 
lated form. 
Good Housekeeping Co. has an au¬ 
thorized capital stock of $1,000,000. 
The only asset seems to be the good 
will of the paper, and its business. 
Like the Orange Judd Co., no tabu¬ 
lated statement of its assets and liabil¬ 
ities has been furnished. The company 
does not even publish its own paper. 
The paper and its business is leased to 
another company, which controls its 
stock. There is an advantage in this 
to a company whose stock is held by 
small investors. These small stock¬ 
holders must have their dividends or 
the promoters would soon be in hot 
water. But to pay dividends when 
they were not earned would be a crim¬ 
inal offence, as these promoters discov¬ 
ered in another case some time back. 
By this clever arrangement, however, 
the holding company may pay rental 
enough to cover the dividends and the 
dividend payments would be legal. 
Furthermore, if the profits increased 
later, the rental need barely pay the 
small dividends, while the holding 
company might reap the balance of 
the profits. The scheme ought to work 
beautifully for the insiders, but it 
seems to us to assume a large bump 
of credulity on the part of the public 
to expect then to pay 20 per cent pre¬ 
mium on such stock. 
The Cushman securities are so- 
called debentures. They are practi¬ 
cally the same thing as a promissory 
note to run a definite time, and de¬ 
pend for their value on the net assets 
of the Cushman Company. Herbert 
Myrick, who controls the company, has, 
it is asserted, declined to make any 
financial tabulated statement; but the 
assets are thought to be onlv the good 
will and business of two cheap monthly 
papers, which carry quite a volume of 
patent nostrum and fake advertise¬ 
ments. They represent what was left 
of the Cushman’s numerous publica¬ 
tions at Boston after the post office 
got through with its inspection of 
them. In the many columns of adver¬ 
tising in these papers, there are only 
two or three advertisements which 
would be accepted by The R. N.-Y. 
or any other publisher with a decent 
regard for the interests of his sub¬ 
scribers. We would as soon put poi¬ 
son before our family on the din¬ 
ing-room table as to put such papers 
with their burden of cheap stories and 
fake advertising on the family library 
table. If enough of people patronize 
the advertisers, which is the principal 
source of revenue, there will be profit 
enough, no doubt, left to pay the in¬ 
terest on the borrowed money. As 
long as the present entanglements of 
various companies are continued it will, 
of course, be necessary to pay the div¬ 
idends and interest on these contribu¬ 
tions to stocks, certificates and deben¬ 
tures or notes. But in our judgment 
there is no sound basis for the in¬ 
vestment of money in such proposi¬ 
tions ; and any disturbance of the pres¬ 
ent complicated arrangements either by 
death or business depression might 
prove disastrous to the investors, as 
they would not be marketable then or 
now in regular investment circles. 
When Ostrander organized himself 
into a two-million-dollar company, and 
sold the stock to country people we 
supposed that the limit of petty fren¬ 
zied finance had been reached. He cer¬ 
tainly capitalized wind and water with 
great success, but in our judgment 
Ostrander is a 'clumsy Clown (com¬ 
pared to the clever financial ring¬ 
masters who crack the whip on some 
of the recent financial rings of the 
publishing circus. 
Farmers who write us about the 
wisdom of putting their little savings 
into one or other of the publishing 
enterprises offered them, will do well 
to study the > history of the Outing 
Publishing Company. The Knapp 
Brothers, who controlled it, also owned 
banks at Deposit and Callicoon, N. 
Y., and controlled the Binghamton 
1 rust Company. As bankers in control 
of the people’s deposits they loaned 
to themselves as publishers $520,000 of 
their depositors’ money. Of course, 
they could put any value on the maga¬ 
zine they cared to name, and as long 
as they could pay the interest all went 
well. The inevitable finally came. The 
banks and trust company closed their 
doors, and the publishing company 
went into the hands of a receiver. Last 
week^ the receiver sold the magazine 
for $30,000, or for about five per cent 
of the amount of the loan, but the peo¬ 
ple who furnished the money will 
hardly get any of this. The George 
Livingston Richards failure in Boston 
last year was another example. This 
stock ran into the millions, but when 
the failure came the receiver did not 
collect enough to pay its debts and the 
small stockholders throughout the 
country lost all their money. When 
the promoters are appealing for your 
money, they never mention these cases, 
but they will point out the two or three 
conspicuous successes made by houses 
which have succeeded because they put 
their own money, time and talents into 
the_ work. Such publishers did not ask 
their subscribers to buy stock because 
it was too much of a risk, while suc¬ 
cess was uncertain. After the uncer¬ 
tainty was past they wanted the honest 
profits themselves and they are too hon¬ 
orable to fix up a scheme by which 
tbev could use your money without 
giving you full fruits of the investment, 
Fadenliecbt & Co.. 316 Washington St., 
New 5 ork City; commission merchant. 
No rating to justify shipments that 
we have been able to discover. 
Giimm & Sons, 315 Washington St., New 
5 ork City, commission merchants, eggs and 
poult ry. 
1 his concern has made petition to go 
into bankruptcy. The liabilities are set 
down at $5S94 and the assets at $815. 
W e have an account for a subscriber 
"for a shipment of eggs, which, of 
course, cannot be collected. 
Herbert R. Forbes, a commission 
merchant of this city, with residence at 
No. 4 Sixth street, Hoboken, N. J., was 
sentenced to Sing Sing prison last week 
for a term of one to three years on-the 
charge of Maryland farmers, who 
shipped him turkeys and got in return 
checks which were protested at the 
bank for want of funds. Tbe amount 
against him was $647.54. The com¬ 
plaint was made by Charles E. Stewart 
and Charles Jarrell, of Hillsboro, Md. 
If shippers generally would follow up 
these, rogues and send some of them to 
State’s prisons, their operations would 
soon be curtailed. But we are glad to 
see even one of the commission frauds 
doing time. 
INDRUROID 
ROOFING 
Requires no Coating or 
Paint. 
Acid and Alkali Proof. 
Elastic and Pliable Always. 
Strong and Tough. 
Absolutely Waterproof. 
Climatic Changes Do Not 
Affedt It. 
Practically Fire Proof. 
Can Be Used on Steep or 
Flat Surfaces. 
Any Workman Can Put 
It On. 
No Odor. 
Will not Shrink or Crack. 
Light in Weight. 
Does not Taint Water. 
Write for samples, prices 
and circulars. 
H. F. WATSON CO. 
ERIE, 1>A. 
Chicago, Hoston. 
Mention R.N-Y. 
Double The Quantity of Water 
delivered by any other deep well 
cylinder pump, is raised by the 
“American” 
Deep Well Pump 
The reason is it delivers the] 
full capacity of the cylinder 
both on the DOWN-stroke 
and the UP-stroke making it act¬ 
ually double capacity. There’s a j 
revelation to pump users in our 
now Deep Well Pump Catalog. 
The American Well Worksf 
Gen. Office & Works, Aurora, III. ( 
1st Nat. Bank bldg., Chicago. 
P. Aubeck, (Export) 4 Stone Street, New York. 
CIDER maghi 
The most approved pressei 
and other machinery foi 
large manufacturers’ or cus¬ 
tom work. Easiest operated 
and most economical. Send 
for f ree catalogue. 
The Boomer & Boschert 
Press Co. 
312 Water St. Syracuse, N. 
SI ,500 PROFIT *on £ CIDER 
Write for our free catalog which fully 
describes and illustrates The Original 
Mt. Gilead Hydraulic 
CIDER PRESSES 
For custom work in your locality 
they are money makers. Built in 
sizes 10 to 400 barrels per day. 
Hand or power. Also Steam 
Evaporators, Apple-Butter Cookers, 
Vinegar Generators, etc. We can show 
you how $1,500 clear profit can be made. 
Hydraulic Tress Mfg. Co., 137 Lincoln Ave., Mt. Gilead. Ohio. 
Or Iloom 119 f. 89 Cortlandt St., New York, N. Y. 
COOPER’S 
POWDER DIP 
Used Annually on 250,000,000 Sheep > 
For 65 years the world’s standard Dip. 
One dipping kills ticks, lice and nits. 
Increases quantity and quality of wool. 
Improves appearance and condition of 
flock. If dealer can’t supply you, send 
j SI.75 for S2.00 (100 gallons) packet to 
Schieffelin& Co., 170 Williams St., New York 
BREEDING STOCK—EGGS FOR MATCHING. 
We have made a marked reduction in 
our prices, lor balance of season. 
IVOOlitAMlS FARM, Inc., JSox II, Iona, N, J. 
VAN ALSTYNE’S R. & S. COMB R. I. REDS-Eggs for hatch¬ 
ing from stock bred for vigor and egg production. 
Edw. Van Alstynk & Son, Kinderhook, N. Y. 
Y/i 
*• MINERAL 
HEAVE 
REMEDY 
NEGLECT 
Will Ruin 
YourHorse * 1 
Send today for 
only 
PERMANENT 
SAFE 
CERTAIN 
Mineral Heave Remedy 
S3 PACKAGE ^ 
will cure any case or 
money refunded. 
$1 PACKAGE 
cures ordinary cases. 
Postpaid on receipt of 
price. Agents Wanted. 
Writ© for descriptive booklet. 
Co., 461 Fourth Avenue, Pittsburg, Pa, 
AUi iA) 
Roof-Fix 
LAMENESS from a Bone Spavin, Ring 
Bone, Splint, Curb, Side Bone or simi¬ 
lar trouble can be stopped with 
E1KUS 
Fnll directions in pamphlet with each 
bottle. *2.00 a bottle at dealors or delivered. 
Horse Book 9 D free. 
AIJSORBINE, JR., for mankind, $1 
a bottle, removes Painful Swellings, En¬ 
larged Glands. Goitre. Wens, Bruises, Vari, 
Coso Veins, Varicosities, Old Sores, Allays Pain. 
W. F. YOUNG, P. D. F., 88 Temple St., Springfield, Mass. 
FIX YOUR ROOF 
Ra Dap Qmioi'A —We will guarantee to put 
Mt* * vlJUalB, any leaky, worn-out, 
rusty, tin, Iron, steel, paper, felt or shingle root in 
perfect condition, and keep it in perfect condition 
for 5c per square per year. 
The Perfect Roof Preserver, makes old, 
worn-out roofs new. Satisfaction guaranteed 
or money refunded. Our fra. roofing book 
tells all about it. Write for it today. 
the Anderson Manu facturing Co.. Dept. 35, Elyria, Obia. 
THE BEST VARIABLE FEED 
SAW MILL 
Made for portable purposes, also larger sizes. 
Engines, Boilers and General Machinery, 
NEW ami REBUILT at Lowest Prices. 
THE “LEADER” INJECTOR, 
most simple, reliable and efficient, 
Send for circulars, stating your wants. 
The RANDLE MACHINERY CO., 
1826 Powers St., Cincinnati, Ohio. 
We are breeders of Single 
and Hose Comb White 
Leghorns, Barred and 
White Hocks, White Wy- 
andottes: also Imperial 
and genuine Japanese breed of Pekin Ducks and 
Bronze Turkeys. We offer eggs of the above kinds 
of chickens from superior prize matings for 00 
per setting, *15.00 per 100. Eggs from good utility 
stock. $1.50 per setting, $0.00 and $8.00 per 100. Eggs 
from Imperial Peklns, $1.50 for 10. $8.00 per 100; and 
Japanese breed, $2.50 for 10, $15.00 per 100. Largest 
plant in vicinity of New York City. Incubators, 
10,000 eggs capacity: 2,000 layers. Stock for sale. 
Send for circular. Correspondence invited. 
BONNIE BRAE POULTRY FARM, 
New Rochelle, N. Y. 
W P R IIP If Bred for Beauty and Utility. 
I I , HUOIVO Pullets, $2.00 to $2.00; Eggs $1.00 per 
13 and $3.00 per 16. T> .* - ■ ~ ~ • 
$1.00 per 13. 
WHITE LEGHORNS 
and PEKIN DUCKS. 
Bred to lay S. C. It. I. lteds. Eggs 
M. L. RICE, Ashburnham, Mass. 
100 
S. C. W. LEGHORNS 
P cultrynirn— Send 10c. for our 1909 Catalog, chock full of useful 
information. Describes ami Illustrates 35 varieties. You can’t 
afford to be without It, Hast Donegal Poultry Yards,Marletla.l’a 
Brown Leghorn & Barred Rock hens, 
cheap. NELSON BROS., Grove City, Pa. 
of exceptional 
vigor ami quality 
250 acres of fertile land devoted to the production 
of an unequalled strain of this greatest egg-breed. 
Eggs, young and old stock, at reduced summer 
prices. Send for circular. 
Mt. Pleasant Farm, Box Y, Havre de G race, Md. 
W P. ROOKS exclusively, trap-nested, bred to 
1 lay. Eggs for hatching, balance of season $1 
for 15; $5 per 100. A. S. BRIAN, Mt. Kisco, N. Y. 
gl KF, Wh. Leghorns, Eggs 15c. per 15, $1.25 per 30 
S. C. K. I. 
Bed, Mottled Ancona Egga, 90c. per 15, $1.50 per 30. Cata¬ 
logue free. JOHN A. ROTH, Quakertown, Pa. 
R. C, Rhode Island Reds, JSaa.'.: 
ner Ducks. Vigorous, heavy-laying strains. High- 
class birds for breeding, show or export. Sinclair 
Smith, Southold, Suffolk Co., N.Y., Box 153. 
EMPIRE STATE S. C. WHITE LEGHORNS, 
Winners at N. Y. State Pair; heavy layers; Trios, 
$5. Eggs for hatching, $1 for 15, $5 for 100. Cata¬ 
log free. O. H. ZIMMER, Weedsport. N. Y. 
T URKEY EGGS—B. Red; Narragansett; yd.l,$l 
peril; yd.2, $3perll;M. B.&W. H,,yd. 1,$3per 14; 
yd. 2. $2 peril. S. i)urigg& Soil. Armstrongs Mills,O, 
BUTTERCUPS 
(SICIXjIYLM) 
t breed w Record—300 Eggs Per Year 
CIRCULARS AND PRICES SENT WITH PLEASURE 
J. S. DUMARESQ. (Cato’s Hall), EASTON. MD. 
Howard S. Rickerson, 96 Warren street, 
New York ; hay commission merchant. 
Not rated and declines to make 
financial statement. Gives bank refer¬ 
ences which are satisfactory as far as 
it goes, but does not furnish any basis 
of financial responsibility. 
Can you tell me anything about the 
Hudson River Grocery & Produce Co.? 
They are trying to sell stock in this neigh¬ 
borhood. The agent was greatly disap¬ 
pointed because I would not buy the stock 
without looking into it further. h. c. c. 
New Y’ork. 
These people brought us a list of the 
directors and officers before the com¬ 
pany was organized. They claimed 
that it was a co-operative farmers’ 
company, hut there seemed to be only 
one farmer on the hoard of directors, 
and he is not in any way active in the 
management. The president was verv 
indignant because The R. N.-Y. re¬ 
fused to accept their advertising. We 
fail to find any prospects in it that 
would justify nn investment in the 
stock by farmers. In the matter of 
shipment of produce we would advise 
advance cash payments. j. j. d. 
GRAY’S 
Practical,dura¬ 
ble and econ- 
o m i c a 1 m a - 
?chinery. Write 
for illustrated 
catalogue 
showing cuts and descriptions of our full line. 
A. W. GRAY’S SONS, 51 South St., Middletown Springs. Vt 
THRESHERS, GASOLINE ENGINES, 
HORSE POWERS, ENSILAGE CUTTERS, 
and WOOD SAWS. Highest Grade. 
The cement bought by the U.S. Government for tne Panama Canal 
SEND FOR OUR FREE BOOK “Concrete Construction about the 
Home and on the Farm.” Contains over 100 drawings and illustrations. 
THE ATLAS PORTLAND CEMENT CO., Dept. 22. 30 Broad Street, N. Y. 
Daily output over 40,000 barrels, the largest in the world. 
M WirrwiiMii i r-rarraiw , 
